tag:blogger.com,1999:blog-7944902213075756335.post283601171810348031..comments2024-03-29T10:22:24.187+08:00Comments on A Singaporean Stocks Investor (ASSI): IREIT: What is a more realistic distribution yield now?AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger22125tag:blogger.com,1999:blog-7944902213075756335.post-80538842682560852692018-10-09T09:56:09.413+08:002018-10-09T09:56:09.413+08:00All investments are good at the right price.
IREI...All investments are good at the right price.<br /><br />IREIT was not a good investment at 90.5c a unit.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-57422524736105455852018-10-09T09:34:59.149+08:002018-10-09T09:34:59.149+08:00Hi Chris,
That sounds logical. :)Hi Chris,<br /><br />That sounds logical. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-4205264623385863992018-10-08T13:29:03.332+08:002018-10-08T13:29:03.332+08:00Quote AK: "if the annualised DPU is 6.1c, to ...Quote AK: "if the annualised DPU is 6.1c, to get an 8% yield, the REIT would have to trade at 75c a unit which is some 15% lower than its IPO price of 88c a unit"<br /><br />Did I get it correctly that you took 6.1c divide 8% to get 75c (or 76c)?CLhttps://www.blogger.com/profile/00805673622699523109noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-75795650572184145882015-07-02T12:35:26.118+08:002015-07-02T12:35:26.118+08:00Canadian insurer Manulife Financial Corp is seekin...<i>Canadian insurer Manulife Financial Corp is seeking to raise S$569.4 million through a Singapore listing of a real estate investment trust (REIT) backed by three United States office properties, it said in a prospectus filed yesterday with the Monetary Authority of Singapore.<br /><br />Manulife aims to sell 694.4 million units, including cornerstone units, at S$0.82 each, making the initial AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-45936184005663943422015-06-30T21:21:24.259+08:002015-06-30T21:21:24.259+08:00IREIT Global Group, manager of IREIT Global, has e...<i>IREIT Global Group, manager of IREIT Global, has entered into a sale and purchase agreement with HFS Immobilienfonds Deutschland 6 GmbH & Co KG to acquire a property in Berlin for 144.2 million euros (S$217.7 million).<br /><br />Located in the district of Lichtenberg, the property comprises two fully connected building sections of eight storeys and 13 storeys respectively.<br /><br />ChooAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-88771625810159932982015-03-24T23:22:42.829+08:002015-03-24T23:22:42.829+08:00Greece will run out of money by April 20 unless it...Greece will run out of money by April 20 unless it receives fresh aid from creditors, a source familiar with the familiar with the matter told Reuters on Tuesday.<br /><br />Athens is scrambling to send a list of planned reforms to its European lenders in the coming days in the hope of unlocking fresh aid and averting bankruptcy.<br /><br />It has lately relied on repo transactions - where it AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-56413844861337189032015-03-13T21:59:58.634+08:002015-03-13T21:59:58.634+08:00For the first time in years, the European Central ...For the first time in years, the European Central Bank is embarking on a policy course with a following wind. But already some officials are fretting that the gale they are unleashing may turn into a hurricane.<br /><br />The concern is that the bond-buying plan launched on Monday to pump more than a trillion euros into the 19-country economy will send stronger members such as Germany that could AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-27457075645165461372015-03-12T17:55:15.610+08:002015-03-12T17:55:15.610+08:00At IPO, they used an exchange rate of S$1.68 per E...At IPO, they used an exchange rate of S$1.68 per Euro.<br /><br />The next distribution is going to be based on S$1.55 per Euro.<br /><br />The Euro is expected to weaken to S$1.40 in the next 12 months.<br /><br />I would use this understanding in my valuation of I-REIT.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-63866482540370428842015-03-12T09:43:49.670+08:002015-03-12T09:43:49.670+08:00An email from a reader:
Dear Mr. AK71,
Yesterday...An email from a reader:<br /><br /><i>Dear Mr. AK71,<br /><br />Yesterday, my friend told me to read your blog. He said you talked about I-REIT during your talk.<br /><br />I like I-REIT because of high yield but I did not buy at IPO and it went up. When the price down to below IPO price, I happily bought. Average price 87 cents.<br /><br />I got 2.57 cents dividend but price is now 81 cents. CanAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-50629037157688800572015-03-03T10:29:40.681+08:002015-03-03T10:29:40.681+08:00Distribution yield was saved by a currency hedge.
...Distribution yield was saved by a currency hedge.<br /><br />Current exchange rate is about S$1.53 per Euro for about a 9% difference. <br /><br />With QE by the ECB, the Euro is likely to weaken further and this gives us a glimpse into what future DPUs might look like, all else remaining equal.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-34677290565333274952015-03-03T10:13:47.906+08:002015-03-03T10:13:47.906+08:00DPU: 1.53 € cents = 2.57 S$ cents.
The actual dis...DPU: 1.53 € cents = 2.57 S$ cents.<br /><br />The actual distribution per unit is computed after taking into consideration the forward foreign currency exchange contracts that IREIT has entered into to hedge the currency risk for distribution to Unitholders. 100% of the distributable income for the period from Listing Date to 31 December 2014 has been hedged at an average exchange rate of AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-36681945659040522002015-03-03T09:50:50.850+08:002015-03-03T09:50:50.850+08:00IREIT Global announced on 27 February that it has ...IREIT Global announced on 27 February that it has missed revenue forecast for the period spanning 13 August – 31 December 2014. <br /><br />DPU for the period: 2.57c.<br /><br />The REIT also warned of an oversupply of office spaces in Germany. “With the QE stimulus introducing massive liquidity into the market and coupled with the weakened Euro and the low interest rates in Europe, competition AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-60679697718873297912015-02-27T23:27:14.317+08:002015-02-27T23:27:14.317+08:00Greece is running out of options to fund itself de...<i>Greece is running out of options to fund itself despite a four-month bailout extension, raising pressure on Athens to quickly implement reforms it has vocally opposed or default on debt repayments in a matter of weeks.<br /><br />For a period, Greece could save money by delaying payments to suppliers or try to raise up to €3 billion by borrowing from state entities such as pension funds thoughAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-29935423702671977372015-02-17T23:01:47.984+08:002015-02-17T23:01:47.984+08:00The QE Battleship Sets the Path Towards Significan...<b>The QE Battleship Sets the Path Towards Significant Euro Weakness</b><br /><br />Tom Elliott, International Investment Strategist at deVere Group observes:<br /><br />“The ECB has added its newest €60 billion a month battleship to the currency wars, which only the U.S. and Swiss stay aloof from. It is a larger-than-expected quantitative easing (QE) program, designed to inflict shock and awe onAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-40581013519958973412015-02-16T15:36:31.693+08:002015-02-16T15:36:31.693+08:00Hi Nick,
Yes, there has to be some accounting for...Hi Nick,<br /><br />Yes, there has to be some accounting for inflation and the recommendation is to factor a 3% increase annually. So, I would think that the BRS, FRS and ERS will all be affected in the same way. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-88423027627042556042015-02-16T09:32:31.941+08:002015-02-16T09:32:31.941+08:00Thanks AK for sharing your thoughts.
Will the MS...Thanks AK for sharing your thoughts.<br /> <br />Will the MS of $161,000 increase every year to keep up with inflation? If so I presume the ERS amount cap of $241,500 will also increase in tandem?Nickhttps://www.blogger.com/profile/17126013903326828525noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-69326402673125478782015-02-05T13:36:01.929+08:002015-02-05T13:36:01.929+08:00Hi Victor,
I like this:
"Those who want to ...Hi Victor,<br /><br />I like this:<br /><br />"Those who want to put more into their Retirement Account for higher annuity payouts should be allowed to do so, felt the panel, which is proposing that they be allowed to have up to three times the Basic Retirement Sum to pay for CPF LIFE premiums (or S$241,500 in 2016)."<br /><br />I will probably be taking full advantage of this if it AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-61500263244446800862015-02-05T13:30:06.678+08:002015-02-05T13:30:06.678+08:00what are your thoughts on the latests CPF developm...what are your thoughts on the latests CPF developments?victorlsl1https://www.blogger.com/profile/08216513769799631859noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-57187454735668461432015-02-04T16:17:15.072+08:002015-02-04T16:17:15.072+08:00Hi SMOL,
I thought you are the flower monk? Flowe...Hi SMOL,<br /><br />I thought you are the flower monk? Flower monk doesn't take flower baths? I blur liao. -.-"<br /><br />The secret to my good skin is 500mg of Vitamin C a day, use NIVEA sunblock moisturiser and drink plenty of water! There, now, you can have good skin too! ;pAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-21205208949454198202015-02-04T15:35:21.906+08:002015-02-04T15:35:21.906+08:00Bad AK!
See?
Let others 起烦恼。
How now?
Must buy...Bad AK!<br /><br />See?<br /><br />Let others 起烦恼。<br /><br />How now?<br /><br />Must buy flowers and take flower bath. No wonder your skin better than mine.....Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-16223190177014391512015-02-04T12:01:59.214+08:002015-02-04T12:01:59.214+08:00Hi seefei,
$188 ang bao for me? You should have t...Hi seefei,<br /><br />$188 ang bao for me? You should have told me! <br /><br />Er, I give you my POSB account number now and you transfer, ok? Electronic ang bao. ;pAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-59972629668769108432015-02-04T10:12:19.458+08:002015-02-04T10:12:19.458+08:00i am more careful of reit that pay out 8% or more....i am more careful of reit that pay out 8% or more. not that they are bad but just have to be more careful.<br /><br />an example was sabana. it was paying about 9% dividend when i got in. when it had problem filling its warehouse space, i divested some and finally got out of it when it was obvious it couldnt find tenant. of course AK also sounded the alarm with his good posts.<br /><br />AK, too seefeihttps://www.blogger.com/profile/13678700448170267302noreply@blogger.com